Collection Item Types
- Incoming Items
- Outgoing Items
- Cash and Non-Cash Items
- User-Defined Item Types:
- Drafts
- NSFs
- Coupons
- Bonds
- Balance of Accounts
- Foreign Checks
MIMICS Item Collection System Overview
MIMICS Item Collection System makes the processing of your department's large volume of car drafts, NSFs, bonds, or foreign checks easy and simple. The system handles the entire processing from presentation of the item through receiving payment from the paying agent and paying the presenter.
The system processes drafts, coupon envelopes, bonds, NSFs, foreign cash, and many other user-defined items. Any number of items can be presented by a single presenter, and as soon as you record them, you can give the presenter a single receipt that contains all of the items. When your customer calls to track down the item's status, you can find the information immediately while you are on the phone. The MIMICS Item Collection System ensures you can give immediate credit and track float on the item, or you can charge interest on the outstanding item until it is paid.
Presenters and payers are kept on file for future use to eliminate re-entry of the information. If you have a presenter or payer that you will use only once, they can be added temporarily, and they won't take up space on your hard drive beyond the time they are needed.
You may have some of the items on a letter become due before others. Some of those items that become due may be paid while leaving others unpaid. The system keeps track of the items paid and those due but are still receivable. You can pay items before payment is received. If you have items that are uncollectable, they can be marked as such without having to cancel the receipt.
The system creates collection letters for incoming and outgoing items. It also creates tracers, receipts and a wide variety of reports. Since an outgoing item from one bank is an incoming item for another, letters can be exported from one bank and imported to the other to save entry time. This is especially helpful for banks within the same holding company.
Fees can be charged or billed. Billed fees can be invoiced at a later date (for example, monthly). All transactions can be posted to your GL and/or DDA system, eliminating error-prone and time-consuming manual entries. Payments by check can be printed on blank safety stock using micr toner. Deposit slips, debit advices and credit advices can also be printed with micr encoding.
View a group of items (for example, all for one customer) and drill down through the items to look at the detail for a specific item. Display pie charts and bar charts for a visual impression of all of your work. Print a wide range of reports that can be modified by you.
Eliminate the worry and the bother of item collections for you and your staff. The checks and balances in our system will eliminate the incorrect entries that result in the return of items due to clerical errors.
If you would like more information about our products and services, please fill out our online request form.